"Bubbles" Made Bitcoin Stronger

[iamTom123]

I have been to Bitcoin for the past two years already and though I only have little amount of it which I saved in an online wallet service provider, I can say that I learned a lot of its ins and outs. While some experts were then claiming that Bitcoin will eventually pop as it can never sustained continuous growth, Bitcoin still defying all odds and is charting right now for more upward movement.

Bitcoin has proven to be a big moneymaker for people who invested their money at the right time or those times that Bitcoin experienced some 'crashes' or dips. And this is the big difference between Bitcoin and other investment vehicle as a 'crash' in Bitcoin can also mean a big opportunity to buy more at a cheaper rate. I would venture to say that Bitcoin have been to many bubbles already but instead of it getting killed it those crashed served as an opportunity to rise up again and again just like the legendary Phoenix.

As the saying goes: What does not kill you can make you stronger and wiser! The same thing can be said on Bitcoin. However, let's give those people who still insist that Bitcoin will soon die a painful and excruciating death the benefits of the doubt they always want. We are still in democracy, aren't we?

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[palle11]

This is in the light of its high volatility, instability and quick money making. The bubble in bitcoin gives it its hype and this is why people tend to invest on it and hold because they are almost certain it will increase in value with time in the future.

[eternalgloom]

Well, all these past bubbles have done is prove to people that even after a crash, Bitcoin still has the backing and trust to move back upwards.

The most important bubble was the one after Mt. Gox went down, Bitcoin's value completely crashed and it stayed that way for a couple of months, even more than a year, if I remember correctly.
Prices were constantly hovering around 300 dollars, the huge volatility was also pretty much non-existent for a while.

People who saw that and the subsequent price increase after that must have gained a substantial amount of trust for Bitcoin after that ordeal.

The crashes we've seen this year are peanuts, they barely last a couple of days and are followed by new ATH's.

[davis196]

Bubbles made bitcoin stronger,because they made all the bitcoin users and holders to believe that bitcoin will recover after every price crash.2 years ago,i didn`t have that trust in bitcoin and i was afraid of holding btc for a long term.Now,after all the price crashes and recovering,i want to hold all my btc as long as possible.
More HODLers means more stability for the btc price against panic selling.

[farhaan]

Its true that bubbles have made bitcoin stronger as every time immediately after the crash,bitcoin has raised up to new heights and its price getting settled in a price more than its previous price.

For example during every hard forks,bitcoin price has fallen down much especially during BU creation and immediately,its price recovered.

Now people have gained much trust over bitcoin as every time after crashes,it has recovered reaching big heights.

[Hydrogen]

That's an interesting perspective, OP.

I wish it were possible to know what bitcoin's price would be if no one had ever called it a bubble. Versus what it is, today.

Perhaps people have lost faith in financial and economic systems to a point where they no longer take it seriously when media spokespersons say things. There's a possibility predictions about bitcoin being a bubble only show systemic corruption and bias against independent movements against bitcoin, which may be transparent enough to drive its price higher as you say.

[ecnalubma]

I don't totally agree that bitcoin is bubble, But I believe its more of a "commodity currency", the demand is so high because people love to use it,  fast and efficient. Bitcoin cost thousands of dollars to mine, thats why its not a pyramid scam or so. It is community driven that's why the price is soo volatile that make it unstoppable, because whether we like it or not its the future of payments.

[hase0278]

I don't totally agree that bitcoin is bubble, But I believe its more of a "commodity currency", the demand is so high because people love to use it,  fast and efficient. Bitcoin cost thousands of dollars to mine, thats why its not a pyramid scam or so. It is community driven that's why the price is soo volatile that make it unstoppable, because whether we like it or not its the future of payments.

What OP is referring to here is not pertaining to bitcoin as a whole, but bitcoin's price when it was still manipulated by Chinese before 2016 pump and the crashes that have happened at that time, and the most famous one is mt.Gox crash. It in fact made bitcoin stronger and more resilient, I think without those bitcoin wont be what it is today. The only questions is that if those days are over or not? I believe that price of btc itself now can possibly be a bubble, price is high for now I think.

[Kemarit]

I don't totally agree that bitcoin is bubble, But I believe its more of a "commodity currency", the demand is so high because people love to use it,  fast and efficient. Bitcoin cost thousands of dollars to mine, thats why its not a pyramid scam or so. It is community driven that's why the price is soo volatile that make it unstoppable, because whether we like it or not its the future of payments.

What OP is referring to here is not pertaining to bitcoin as a whole, but bitcoin's price when it was still manipulated by Chinese before 2016 pump and the crashes that have happened at that time, and the most famous one is mt.Gox crash. It in fact made bitcoin stronger and more resilient, I think without those bitcoin wont be what it is today. The only questions is that if those days are over or not? I believe that price of btc itself now can possibly be a bubble, price is high for now I think.

I don't think that the price manipulations of bitcoin will be over, but it less likely today because there's a lot of entities now as compare before were the Chinese can easily fake the volumes of trading resulting to bitcoin overvalued. But for each every bubble that has been burst, bitcoin rebounded and even makes it stronger as the OP has stated. If the price of bitcoin now is a bubble then it could possible burst, but I don't think it will crash that hard again unless someone really try to manipulate it by spreading FUD. But then again, bitcoin resiliency will bail him out again just in time for another bubble to form. IMHO.

[portotoi]

Bitcoin proves itself that it will never become a bubbles as what it shows today. Even before, many are saying that it will never survive, but why is it that more rich people today because of bitcoin? and that is the proof of its reliable existence in the cryptocurrency world that it will never vanish like a bubbles.

[Dozer988]

What really is a humorous picture of those shit talkers. I never thought bitcoin was a bubble and all traders think so.

[mark_salcedo618]

Bitcoin will never stop increasing its price. some might say that bitcoin's price is going down but it is just because of the volatility and the demand added with supply

[aoihs00]

Yeah the negative thinkers are always there to pin point the bad side of the bitcoin. But as we know bitcoin has captured great market capitalism in very short period of time ad there is now way bitcoin will fall into future. Now the stage is very saturated and there is no way this saturation point can be broken. I mean why would the legacy of bitcoin will fall in first place? Why would it become bubble after having so much market cap. There are so millions of investors of bitcoin and most of them are big guys and having billions of investment into it. They are not going anywhere and thats reality which is keeping the bitcoin as stronger asset in the crypto market. And they say its a bubble, so yeah its bubble worth billions of dollars market cap.

[kaya11]

Schemes and strategies to make you believe and sell your tokens and then they will buy it cheap. How funny it is to see their dirty moves hits back at them causing Bitcoin to rise even higher. It will remain at the top whatever they are planning to do, hold your.

[fiulpro]

Well I do think that.. bitcoins when they sky rocketed in the past then the people realized that they have lost an opportunity to earn more money and everyone was waiting for them to drop in price and thus when the bubble broke then.. people started buying it in large amounts which eventually helped it to rise to a value further higher than the first thus.. making it recover from the bubble brust that happened in the past..

Bubbles just creates an opportunity to still buy bitcoins if we have lost it and gain nominal amount of profit from it.

[soham]

Well, all these past bubbles have done is prove to people that even after a crash, Bitcoin still has the backing and trust to move back upwards.

The most important bubble was the one after Mt. Gox went down, Bitcoin's value completely crashed and it stayed that way for a couple of months, even more than a year, if I remember correctly.
Prices were constantly hovering around 300 dollars, the huge volatility was also pretty much non-existent for a while.

People who saw that and the subsequent price increase after that must have gained a substantial amount of trust for Bitcoin after that ordeal.

The crashes we've seen this year are peanuts, they barely last a couple of days and are followed by new ATH's.

That's absolutely true! When the MtGox incident happened, bitcoin actually lost the majority of the public trust which shook the market strongly. Because people started thinking negatively around bitcoin and about its sustainability. People were actually scared about their investment that time and that is the reason why the bitcoin market crashed big time. Bitcoin doesn't have a back up asset, it is completely based on public trust and global demand.

The recent crashes are literally nothing compared to that incident. It was more like an opportunity for the investors to buy at a cheaper rate. So the bitcoin is a bubble, but a stronger one which can't be damaged easily.

[Nevis]

Yeah it really help though.Bubbles makes a huge hype in the bitcoins market and making noise even on national television channels making or resulting in huge demand cause of hype that is cause by the price bubble

[dothebeats]

Bubbles in bitcoin made the most simple people millionaires by just being geeky about it. Up to now, the said bubble has been holding strong for almost a year now, and skeptics remain skeptics because they don't even have money invested on it, thus the negative comments since they also don't share bitcoin's success. I just think that people that are criticizing and fudding so hard are those people who aren't really invested in the game. Bubble or not, it caused a lot of good things to people.

[Tux99]

This is in the light of its high volatility, instability and quick money making. The bubble in bitcoin gives it its hype and this is why people tend to invest on it and hold because they are almost certain it will increase in value with time in the future.

Agree with your opinion. The most advantage of bitcoin is high fluctuation in price that can make high income.
Stronger of bitcoin because many people involve and invest their money.

[audaciousbeing]

I will want to take a contrary view to that because holding the position that bubble makes bitcoin stronger is admitting that bitcoin is really a bubble and if if follow that path, we might end up to the point where the bubble does not hold things together again.

Its true a lot of people are putting money into bitcoin with the hope of it skyrocket but that's is a wrong motive because people like that are the ones that expand the panics immediately there is little drop in price. So bubble does not make bitcoin stronger, it's just a misconception.